Davis Investment Partners LLC Trims Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Davis Investment Partners LLC lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,163 shares of the software maker’s stock after selling 234 shares during the period. Davis Investment Partners LLC’s holdings in Paycom Software were worth $1,245,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Sylebra Capital LLC boosted its holdings in shares of Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares during the last quarter. FMR LLC raised its position in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after buying an additional 357,723 shares during the period. International Assets Investment Management LLC boosted its holdings in Paycom Software by 9,997.5% in the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after acquiring an additional 278,529 shares during the last quarter. Confluence Investment Management LLC grew its position in Paycom Software by 147.3% during the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after acquiring an additional 225,081 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Paycom Software by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock valued at $81,030,000 after acquiring an additional 151,807 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $163.51, for a total value of $318,844.50. Following the transaction, the chief executive officer now directly owns 2,770,410 shares in the company, valued at approximately $452,989,739.10. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 25,350 shares of company stock valued at $4,853,570. Insiders own 14.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Jefferies Financial Group raised their price objective on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. TD Cowen increased their price target on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Piper Sandler raised their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays upped their price target on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $196.63.

Paycom Software Stock Down 0.6 %

Shares of PAYC traded down $1.25 during trading on Monday, reaching $200.75. The company’s stock had a trading volume of 350,803 shares, compared to its average volume of 469,951. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The company has a market cap of $11.58 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 3.12 and a beta of 1.14. The company has a fifty day moving average of $220.82 and a two-hundred day moving average of $182.63.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.75%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.